Results of the 1st quarter 2005
Jenoptik posts successful 1st quarter 2005. Sales and earnings increased on a comparable basis. Strong order intake continued.
The Jenoptik Group posted a successful 1st quarter 2005. At 409,1m euros sales showed a 2.3 percent rise over the same period in the previous year (prev. year 400.0m euros). On a comparable basis the increase in sales at around 25 percent was markedly higher as the figure no longer includes the consolidated sales of the Technical Facility Systems unit in the sum of approx. 73m euros. This unit was deconsolidated at the end of 2004.
Result of operating activities (EBIT) reached 10.8m euros (prev. year 35.7m euros). On a comparable basis the Jenoptik Group was therefore able to record a marked increase in the operating result as earnings in the same period of the previous year were heavily influenced by one-off effects in the sum of almost 36m euros. As such, the sale of the shares in SC300 GmbH & Co KG produced earnings of 30.7m euros in the 1st quarter 2004 and the sale of a project building in Singapore approx. 5m euros.
As a result of improvements in the net interest and the net investment result the financial result increased by 9.2m euros in absolute terms, to minus 5.7m euros (prev. year minus 14.9m euros). Earnings before tax came to 5.1m euros (prev. year 20.8m euros). Expenses from income tax totaled 2.9m euros (prev. year 3.7m euros). Income from deferred taxes came to 0.3m euros (prev. year expense 3.1m euros). The Jenoptik Group posted earnings after tax of 2.4m euros in the 1st quarter of the current fiscal year (prev. year 14.0m euros). On a comparable basis by contrast (excluding one-off effects on the EBIT in the 1st quarter 2004) Jenoptik recorded a marked increase in earnings after tax which, in addition to the rise in the operating result, is also attributable to the improvement in the financial result.
The strong order intake in fiscal year 2004, particularly during the 4th quarter, has been continued in 2005. From January to March 2005 the Jenoptik Group recorded a total order intake of 755.6m euros (prev. year 867.4m euros). The 12.9 percent fall in the Group order intake is the result of the deconsolidation of the Technical Facility Systems unit, the order intake for which was still included in the figure for the 1st quarter 2004. The order backlog as at March 31, 2005 was 2.3bn euros (prev. year 2.8bn euros). Here again the 17.6 percent fall compared with March 31 of the previous year is primarily due to the deconsolidation of the Technical Facility Systems unit as well as the high sales volume in 2004. At 380.3m euros the shareholders" equity of the Jenoptik Group increased further as at March 31, 2005 (December 31, 2004: 369.0m euros). In addition to the positive earnings after tax in the period covered by the report, the rise in the value of the PVA TePla shares also made a contribution to this figure. As the total assets also fell slightly to 1,547.6m euros (December 31, 2004: 1,555.0m euros) the shareholders" equity ratio rose from 23.7 percent at the end of 2004 to 24.6 percent now.
Outlook for the current fiscal year 2005.
The Jenoptik Group plans sales of between 1.9 and 2.1bn euros for the current fiscal year. Group sales are therefore expected to be maintained at the same level as 2004 on a comparable basis. As a result of the deconsolidation of the Technical Facility Systems unit a sales volume of around 450m euros generated in 2004 will no longer be included in the figure for 2005. On the earnings side, for the current fiscal year Jenoptik is aiming to maintain the same high level achieved in 2004 and to generate an operating EBIT of between 60 and 70m euros.
|Figures in million euros||Q1/2005||Q1/2004|
|Group operating result (EBIT)||10.8||35.7|
|Group earnings before tax||5.1||20.8|
|Group earnings after tax||2.4||14.0|
|Order intake - Group||755.6||867.|
|Order backlog - Group||2,274.7||2,760.6|
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